Demonetised currency racket busted, 4 held

The Delhi Police claimed to have busted a racket involving demonetised currency and arrested four persons. The accused were allegedly duping people by circulating old Rs 500 and Rs 1,000 notes, claiming that these could be exchanged at the Reserve Bank of India (RBI) on the basis of Aadhaar card, official said on Thursday.

Those arrested have been identified as Harsh (22), Tek Chand Thakur (39), Lakshya (28) and Vipin Kumar (38).

Acting on a tip-off, a team from Northwest district nabbed four persons near the Shalimar Bagh Metro station Gate No. 4. During their search, the police recovered demonetised notes with a total face value of Rs 3.59 crore.

Following the recovery, a case under relevant sections of the BNS and Section 5 and 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017, was registered at the Ashok Vihar police station, said Deputy Commissioner of Police (Northwest) Bhisham Singh.

The gang was duping people by offering demonetised notes at throwaway prices and falsely claiming that these could be exchanged at the RBI on the basis of Aadhaar, he said.

The accused admitted that they were engaged in this activity to earn quick and illegal money, Singh said.

The police said the accused disclosed that they were in contact with two persons, Ashish and Tarun, since 2021. The duo informed them that they had demonetised currency worth crores and assured substantial commission to help convert the notes, the police said.

The accused acted on their instructions received over mobile phones. Further investigation was on to unearth their linkages, the police said.